In the face of global economic challenges, Sirma Group Holding (SGH) JSC remains steadfast in its commitment to growth, seizing the current crisis as a springboard for strategic acquisitions and international expansion.
Strategic Milestones
2023 & H1 2024 The years 2023 and the first half of 2024 have been transformative for SGH, marking significant progress in our business strategy aimed at growth and global reach. This period is characterized by pivotal corporate restructuring and consolidation efforts, reflecting the company’s dedication to long-term development. Our investors and stakeholders will have an excellent opportunity to meet with SGH’s Management and ask their questions at the upcoming ANNUAL GENERAL MEETING OF SHAREHOLDERS, which will be held on June 27, 2024, at Sirma Group Holding Head Office.
A Unified Vision
SGH’s Corporate Strategy SGH’s revised strategy is a testament to our holistic approach, integrating intellectual assets, operational and financial activities, and ownership into a unified structure. This strategic consolidation is designed to enhance operational efficiency across all service companies within the Group.
Focused Specialization and Expansion
While EngView, Sirma Medical, and Daticum continue to operate as separate entities due to their market impact and product success, our strategy emphasizes vertical specialization within the holding. This is complemented by organic sales growth and the strategic acquisition of companies with synergistic technologies or business models, propelling us toward our ambitious sales target of EUR 100 million annually. Post-consolidation, Sirma is poised to list on a major global exchange by 2027.
Efficiency Through Ownership
Concentration By centralizing ownership within our subsidiaries, we aim to streamline operations and leverage economies of scale, fortifying Sirma’s vertical organization and specialization. SGH will persist in nurturing our core sectors, including financial services, transportation, logistics, hospitality, industrial solutions, insurance, healthcare, and retail.
Restructuring Milestone
The restructuring commenced with the transformation of Sirma Solutions (SS) from a JSC to an EAD, officially recorded on 23.10.2023. This move positioned SGH JSC as the sole proprietor of Sirma Solutions EAD. As our largest entity, established in 1992, Sirma Solutions EAD boasts over 160 employees and leads in IT consulting and systems integration globally and in Bulgaria.
Recent Acquisitions
In April 2024, SGH acquired a 45% stake in Sirma InsurTech S.A., which resulted in the full acquisition of Sirma InshurTech S.A., strengthening our position in the insurance sector. May 2024 saw the addition of a 20% stake in Sirma CI S.A. by SGH, and the Group became the sole owner.
June 2024 - a New Chapter
The onset of June 2024 marked a strategic investment in Sirma Business Consulting AD, with Sirma Solutions EAD acquiring a 45.91% share (BGN 2.539.768) and becoming the sole owner. Specializing in bespoke business and IT solutions for the finance industry, this acquisition aligns with our vision for integrated service excellence.
Looking Ahead
By the end of 2024, all IT services subsidiaries will be merged into SGH, completing the consolidation of Sirma’s ownership and operations.
Find out more information on our Investor Relations page.
